Dec, 31, 2023 — AMBRIDGE AREA FEDERAL CREDIT UNION is a federal credit union headquartered in BADEN, PA with 1 branch location and about $12.46 million in total assets. Opened 89 years ago in 1935, AMBRIDGE AREA FEDERAL CREDIT UNION has about 971 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AMBRIDGE AREA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 401 State St BADEN, PA 15005-1736 |
| Phone: | (724) 869-3342 |
| Fax: | (724) 869-3348 |
| Website: | https://www.ambridgeareafcu.com |
| Branches: | 1 branch locations |
| Members: | 971 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 900 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $12,456,645 |
| CEO/Manager: | Gary A FORD |
| Chairperson: | Angelo Pournaras |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,091,456 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,294,584 |
| Unsecured Loans | 904,143 |
| Other Loans | 1,842,216 |
| TOTAL LOANS | 4,040,943 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -89,634 |
| Land And Building | 76,193 |
| Other Fixed Assets | 21,785 |
| NCUSIF Deposit | 113,168 |
| All Other Assets | 0 |
| TOTAL ASSETS | 12,456,645 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 18,288 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 23,697 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 695,115 |
| Regular shares | 7,006,659 |
| All Other Shares & Deposits | 3,668,065 |
| TOTAL SHARES & DEPOSITS | 11,369,839 |
| TOTAL LIABILITIES | 11,411,824 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,044,821 |
| TOTAL EQUITY | 1,044,821 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 12,456,645 |
| INCOME & EXPENSE | |
| Loan Income | 174,284 |
| Investment Income | 139,963 |
| Other Income | 5,036 |
| Total Employee Compensation & Benefits | 130,637 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 218,855 |
| Non-operating Income & (Expense) | 26,051 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 12,133 |
| Cost of Funds | 113,596 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -129,895 |
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